Source: PaxForex Premium Analytics Portal, Technical Insight

U.S. stock indices showed no single dynamic at the close of trading on Wednesday on mixed data. The Dow Jones Industrial Average index rose by 114.32 points (0.38%) to 30129.83 points. The number of Americans filing for unemployment benefits for the first time last week fell by 89,000 to 803,000, the U.S. Labor Department said Wednesday. According to revised data, a week earlier, the number of appeals was 892,000, not 885,000, as previously reported. On average, experts expected the number of applications to remain at 885,000, according to Trading Economics.

Dow Jones 30, H4

Pivot: 30016.00

Analysis:

Provided that the index is traded above 29820.00, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 30016.00
• Take Profit 1: 30340.00
• Take Profit 2: 30470.00

Alternative scenario: 

In case of breakdown of the level 29820.00, follow the recommendations below:

• Time frame: H4
• Recommendation: short position
• Entry point: 29820.00
• Take Profit 1: 29650.00
• Take Profit 2: 29460.00

Comment:

RSI indicates an uptrend during the day.

Key levels:

Dow Jones 30, D1

Pivot: 30078.00

Analysis:

While the price is above 28900.00, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 30078.00
• Take Profit 1: 31300.00
• Take Profit 2: 32300.00

Alternative scenario:

If the level 28900.00 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 28900.00
• Take Profit 1: 27570.00
• Take Profit 2: 26100.00

Comment:

RSI is bullish and indicates a mid-term uptrend.

Key levels: